AlCircle News Edited By "Debanjali Sengupta"
Debanjali Sengupta is a passionate content writer with 10 years of experience in Business writing, Web Content writing, Blogging, Editing and Research. She is responsible for generating and editing content for AlCircle Newsletter and other online and offline content for enhancing the brand value and its visibility among global users.
A00 aluminium ingot price in China again crosses RMB14,000/t benchmark amid muted input costs
On a further downfall of the social inventories of primary aluminium ingots in China on a brisk consumption on Monday, June 22, the price of A00 aluminium ingot has recorded a hike of RMB 70 per tonne to RMB 14,030 per tonne, found Shanghai Metals Market. This marks the second consecutive growth of A00 aluminium ingot price, crossing the benchmark price of RMB 14,000 per tonne. The average prices are expected to range between RMB 14,010 per tonne and RMB 14,050 per tonne, with spot contract to be traded at a premium price of RMB 220-240 per tonne. Chongqing has seen the highest growth in A00 aluminium ingot price today of about RMB 90 per tonne to RMB 14,020 per tonne, followed by Foshan, where the aluminium ingot price has increased by RMB 70 per tonne to stand at RMB 14,110 per tonne....
COVID-19 Aid: UK’s only aluminium composite panels manufacturer obtains £9million finance package
The United Kingdom’s only aluminium composite panels manufacturer named Multipanel UK Ltd has reportedly obtained a £9million finance package from HSBC UK. The finance package is mainly for diversifying product range, expanding business, and most importantly, safeguarding the future of the business from the coronavirus crisis. Multipanel UK, based in Exeter, makes aluminium composite panels for industries like sign making, exhibition stand design, and architecture. But now, with the intention to meet demand from various other industries for screen materials used in shops, offices, and leisure facilities, Mulpanel UK will upgrade its core product using the fund. This finance package can also be used to stabilise cash flow at a time when many of the company’s existing customers are closed...
Production at Hydro’s Paragominas bauxite mine and Alunorte alumina refinery affected due to power outage
Hydro’s production at Paragominas bauxite mine is at a temporary halt due to power supply cut as three power transmission towers overturned on Saturday, June 20. Repair work has started and regular power supply to Paragominas is expected to resume within the next two to three weeks. The Paragominas mine delivers bauxite to Alunorte alumina refinery in Barcarena via a 244-kilometre-long-pipeline. So, the temporary production halt at Paragominas mine has resulted in a 50-70 per cent production cut at Alunorte for this period to balance the bauxite inventories. No injuries to people or damage to the environment or other production assets have been reported as a result of this incident. Hydro also does not expect significant customer impact from the power outage. Hydro is taking necessary...
Former Indian union energy secretary EAS Sarma seeks independent investigation into illegal bauxite mining
Former Indian union energy secretary EAS Sarma has appealed for an independent investigation by Anti-Corruption Bureau (ACB) and Special Enforcement Bureau (SEB) into the alleged illegal mining of bauxite in East Godavari and Visakhapatnam districts. In a letter addressed to the principal secretary of Karikal Valiven on Sunday, June 21, EAS Sarma wrote that he had been trying to bring into the notice of the State Government that private individuals and companies were extracting bauxite in the guise of laterite. He said private miners in collusion with the local mining officials had been producing false analysis certificates to show that the bauxite they were extracting and exporting to alumina refineries were indeed laterite, in order to circumvent the restriction of bauxite mining only...
Three-month LME aluminium finished lower at US$ 1,586 per tonne; SHFE climbed US$8/t
The US dollar rose for the fourth consecutive day last Friday and posted its best weekly gain in a month, as fears of a second wave of coronavirus infections boosted demand for safe-haven assets. The dollar index, which measures the greenback against six major peers, was up 0.2% at 97.622, notching a four-day winning streak. Three-month LME aluminium finished lower at US$ 1,586 per tonne last Friday as it came off after climbed to a session high of US$ 1,605.50 per tonne, with investors covering their bullish positions. Open interest lost 2,775 lots to 831,000 lots. On Friday, June 19, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1578 per tonne after inching down from 1586.50 per tonne on Thursday, June 18. 3-months bid price and 3-months offer price...
China’s economy revival to lead to global aluminium recovery in H2 2020, but oversupply issues to persist: Alcoa CFO
Aluminium demand is likely to rebound in the second half of 2020 as China’s economy has begun to revive leading to the global recovery from the COVID-19 pandemic. But the overcapacity may continue to pose challenges to the industry, pointed out Alcoa CFO William F. (Bill) Oplinger in early June. Oplinger, while participating during a virtual presentation for the Deutsche Bank Global Industrials & Materials Summit, said: “China is leading the recovery, and we are seeing some sectors in China reporting growth higher than 2019 levels in areas like industrial production, vehicle production, commercial starts and food and drink sales.” He added, “On top of that was the recently announced Chinese stimulus plan that makes provisions for investments in traditional and new infrastructure areas, so...
UAE’s aluminium crude metal and alloys exports to US surge by over 100% in March 2020
The latest data released by the US Geological Survey shows a significant surge in the United Arab Emirates’ aluminium crude metal and alloys exports to the United States in March 2020, following a dip in February. According to the data, the aluminium crude metal and alloys exports from the UAE to the US soared from 10,300 tonnes in February to 20,400 tonnes in March, an increase of 10,300 tonnes or 102 per cent month-on-month. But when compared to the same period last year, the UAE’s exports to the US plunged by 99.96 per cent from 53,200 tonnes. In January 2020, the export amount was 31,000 tonnes, meaning the United States’ imports from the UAE declined 67.42 per cent month-on-month in February 2020. In January also, the UAE’s aluminium crude metal and alloys exports to the US stood...
LME aluminium price trended up this week by US$32/t on declining opening stock; SHFE price edged lower over the week
The US dollar declined on Monday, June 15, amid mounting fears of a second wave of the coronavirus pandemic, while on Tuesday it rose on the back of a record rise in US retail sales. On Wednesday, the dollar continued to move higher and further expanded on Thursday, June 18. Three-month LME aluminium regained losses from early session last night, as it rallied from a session low of US$ 1,564.5 per tonne and closed 0.73% higher on Monday, June 15, at US$ 1,587.5 per tonne. On June 16, it ended up 1.04% to stand at US$1,604 per tonne and further higher for the third consecutive day on June 17 to US$ 1,607.5 per tonne. On June 18, however, it ended the day 0.47% lower at US$1,600 per tonne. Both LME aluminium cash (bid) and LME aluminium official settlement price began the week on Monday,...
AlCircle e-Magazine Pre-launch Alert-“Covid-19 Impact: Importance & Emergence of Industry 4.0”
Just when the Industry 4.0 was creating a buzz in the aluminium industry, inspiring smelters and plants to integrate digitalization in their operations management, the COVID-19, also known as the novel coronavirus, made its emergence on the earth causing a pandemic and slowing down lives and livelihoods. The virus has caused radical shifts in workflows all across the globe as millions are practising social distancing and/or complying with self-quarantine recommendations. But while downsizing many industries, the pandemic’s dramatic appearance is believed to have accelerated numerous trends on the other hand, such as Industry 4.0. Industry 4.0 is the current transformation of traditional manufacturing and industrial practices with the latest smart technology. This primarily focuses on the...
Shandong Port Group to form a JV with Rizhao Port, bauxite port project at Boffa to get management services
According to a recent report, Shandong Port Overseas, a unit of Shandong Port Group, has inked a Memorandum of Understanding with Rizhao Port to jointly develop international markets. As per the deal signed, Shandong Port Overseas will set up a joint venture with Rizhao Port - Shandong Port Overseas Development (Rizhao) Company Limited. The joint venture will provide production management, equipment operation, and maintenance service for bauxite port project at Boffa, Guinea, and coal terminal at port Qasim, Pakistan. The joint venture company will also promote overseas resources consolidation and expand ports connection. Shandong Port Group, established in 2019, participates in several overseas port projects, mainly in Italy, United Arab Emirates, Guinea, Pakistan and Myanmar.
Baglietto’s 40-metre aluminium superyacht Hull 10232 makes her debut in La Spezia
Italy-based superyacht builder Baglietto has recently celebrated the formal launch of its fully-customised 40-metre aluminium superyacht known as Hull 10232 at its own facility in La Spezia, Italy. This marks the first superyacht launched by Baglietto in this year following the COVID-19 lockdown in Italy. Since the American owner of the yacht wanted a fully customised vessel, Baglietto developed the hull design from scratch. The yacht is 131 feet long and employs a semi-displacement hull form, with a bulbous bow for better seakeeping and efficiency. Interestingly, Baglietto, for the first time, has built a yacht with a vertical bow look. According to the report, Horacio Bozzo and Achille Salvagni have designed the sporty and elegant exterior of the yacht, which perfectly fits the lavish...
Valmec upgrades gas supplying station, advantage to Alcoa Pinjarra Alumina Refinery
According to a recent report, Valmec has completed the upgradation work on Australian Gas Infrastructures Group’s (AGIG) Alcoa Pinjarra Meter Stations, which supplies gas to Alcoa’s Pinjarra Alumina Refinery in Western Australia. Alcoa Pinjarra Refinery refines 4.2 million tonnes of alumina per annum. The news came after all the upgradation works were completed and Valmec declared the completion of the project removing the temporary bypass piping. The upgradation project included offsite fabrication, installation of temporary bypass piping to allow required isolations to take place without interrupting gas supply, upgrading metering runs one and two, valve replacements and pipe stool refurbishment. Besides Alcoa, AGIG’s Alcoa Pinjarra Meter Stations supplies gas to a range of industrial...
NALCO cuts aluminium ingots and products prices by INR2,600/t with effect from June 17
Following the two consecutive hikes, National Aluminium Company Limited (NALCO) has decreased its aluminium ingots and aluminium products prices by INR 2,600 per tonne or 1.8 per cent with effect from Wednesday, June 17. NALCO’s aluminium ingots price is thus, now hovering at INR 139050-142550 per tonne as compared to INR 141,650-145,150 per tonne as of June 11. With the latest cut, the prices of aluminium billets have come in at INR142,500-145,150 per tonne, while the prices of aluminium wire rods have pegged at INR 143,550 – 147,900 per tonne. Indian aluminium producers generally link the prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down by more than 10% so far in 2020 due to slower global demand...
A00 aluminium ingot price declines for the second consecutive day to RMB13,910/t; Price of aluminium powder dips 0.57%
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a decline for the second consecutive day of RMB 60 per tonne to stand at RMB 13,910 per tonne, as of Friday, June 19. The average prices are expected to range between RMB 13,890 per tonne and RMB 13,930 per tonne, with spot contract to be traded at a premium price of RMB 160-200 per tonne. Hangzhou, Shenyang, and Linyi have seen the highest decline today of A00 aluminium ingot price among the major Chinese markets by RMB 70 per tonne to stand at RMB 13,920 per tonne, RMB 13,855 per tonne, and RMB 13,840 per tonne, respectively. Foshan, Wuxi, and Chongqing have seen a plunge of RMB 60 per tonne to, respectively, hover at RMB 14,000 per tonne, RMB 13,910 per tonne, and RMB 13,870 per tonne. In Gongyi, the price...
Chinese secondary aluminium operating rates inch up 1.6 percentage points in May 2020
According to Shanghai Metals Market, operating rates across China’s secondary aluminium industry increased 1.6 percentage points month-on-month to stand at 48.69 per cent in May. In April, China’s secondary aluminium industry’s operating rates were 47.08 per cent, lowering 0.22 percentage point from the previous month. However, year-on-year, China’s May secondary aluminium operating rates inched down by 5 percentage points, showed the SMM data. The month-on-month hike in Chinese secondary aluminium operating rates in May could be attributed to the ramp-up of operations with the slight improvement of auto sales amid the government’s stimulus efforts. Industry data showed China’s production and sales of automobiles recorded double-digit growth in May from a year ago. On the other hand, the...
Rusal announces the commencement of a new foundry complex to produce high silicon aluminium alloy
Rusal, a leading global aluminium producer, has announced the beginning of a new foundry complex, having a production capacity of 120 thousand tonnes of alloys per year, at the Boguchansky aluminium smelter. The new foundry will produce high silicon aluminium alloy with increased strength, which is commonly used in the automotive industry for manufacturing wheels, engine units, and various automobile spare parts. Demand for this alloy is strong in Japan, Indonesia, Turkey, South Korea, Germany, and the United States. Rusal for this fully automated foundry complex has invested over 600 million rubbles. The foundry produces ingots through continuous casting technology that eliminates the formation of any slag inclusions and other defects, unlike in traditional casting methods. Evgenii...
Vedanta hikes its aluminium prices by INR 2,000 per tonne following two back-to-back cuts
According to the recent report, Vedanta has increased its aluminium ingots prices by INR 2000 per tonne or 1.47 per cent with effect from Thursday, June 18. The prices are thus, now ranging between INR 137,750 per tonne and INR 150,750 per tonne, as compared to INR 135,750-148,750 per tonne on Saturday, June 13. With the latest hike following two consecutive declines last week, Vedanta’s aluminium billet price has come in at INR 145,750 per tonne, also up by INR 2000 per tonne or 1.39 per cent from INR 143,750 per tonne on June 13. Like any other Indian aluminium producers, Vedanta also links its aluminium and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down nearly 11% so far in 2020 due to slower...
Aluminium billet inventories in China decline by 2,500 tonnes on increased shipments from warehouses
Inventories of aluminium billets in China have declined this week ending on Thursday, June 18, as shipments from warehouses increased while arrivals decreased in contrast, found Shanghai Metals Market. SMM data shows, aluminium billets inventories today have declined by 2,500 tonnes across the five major consumption areas in China to stand at 71,500 tonnes, following a build-up of 900 tonnes last week, on June 11. The chart below indicates the current status of aluminium billets inventories across China in more details: As the above chart shows, the decline in aluminium billets inventories has not touched upon the major Chinese markets, except Foshan, where the inventories have plunged by 6,400 tonnes to stand at 33,300 tonnes. In Wuxi and Nanchang, the billet stocks have rather increased...
